Utz taps exec of breakfast giant as new CEO, keeps 2022 sales outlook

Utz Brands Inc. /zigman2/quotes/201135697/composite UTZ +0.28% on Monday said Howard Friedman would become its new chief executive on Dec. 15 and take a spot on the snack-maker's board. Utz's current CEO, Dylan Lissette, a 27-year veteran of the company, will be appointed executive chairman on that date, and then move over to non-executive chairman in the second quarter of 2023. Friedman is currently the chief operations officer at Post Holdings /zigman2/quotes/201725777/composite POST +0.90% , which makes cereals and products from Bob Evans Farms, and has held that role since September 2021. The leadership transition, Utz said, was "initially contemplated at the time of the merger between Collier Creek Holdings and Utz." Utz also said it was sticking with its fiscal 2022 outlook, which included net sales growth of 13% to 15%. Utz shares closed 0.3% lower on Monday. Post Holdings rose 2.5%.

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Utz Brands Inc.

US : U.S.: NYSE

$ 14.17

+0.04 +0.28%

Volume: 611,359

Sept. 21, 2023 4:00p

P/E Ratio

4,168

Dividend Yield

1.61%

Market Cap

$1.99 billion

Rev. per Employee

$376,782

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Post Holdings Inc.

US : U.S.: NYSE

$ 88.89

+0.79 +0.90%

Volume: 297,935

Sept. 21, 2023 4:00p

P/E Ratio

18.08

Dividend Yield

N/A

Market Cap

$5.39 billion

Rev. per Employee

$635,768